Deputy Finance Minister: Georgia develops in right direction

15:41, 03.08.2023

“Prices are being set, and the inflation rate is decreasing; this all indicates that the country develops in the right direction on the background of high economic growth,” said Deputy Finance Minister Mikheil Dundua.

Dundua believes that economic growth will reflect the population’s welfare.

“We expect a further decrease in the inflation rate and its low level during the year. From this point of view, the process also goes in the right direction,” he said.

In July 2023, the Consumer Price Index decreased by 0.04% compared to the previous month, while the annual inflation rate amounted to 0.3%. Concerning the annual core inflation, the prices increased by 3.2 per cent, while the annual core inflation without tobacco amounted to 3.1%, the National Statistics Service (GeoStat) reported.

By - Elene Dobordjginidze

Economics

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